Janney Montgomery Scott LLC Sells 4,767 Shares of RB Global, Inc. $RBA

Janney Montgomery Scott LLC trimmed its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 20.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,580 shares of the business services provider’s stock after selling 4,767 shares during the quarter. Janney Montgomery Scott LLC’s holdings in RB Global were worth $1,781,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. MV Capital Management Inc. bought a new position in shares of RB Global during the fourth quarter valued at $29,000. Bayban bought a new stake in shares of RB Global in the 4th quarter worth about $34,000. Central Pacific Bank Trust Division increased its position in shares of RB Global by 41.8% during the 4th quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider’s stock worth $37,000 after purchasing an additional 107 shares in the last quarter. State of Wyoming acquired a new stake in shares of RB Global during the 2nd quarter worth about $46,000. Finally, Nemes Rush Group LLC bought a new position in RB Global during the 4th quarter valued at about $54,000. 95.37% of the stock is currently owned by institutional investors.

RB Global Trading Up 0.3%

Shares of RBA opened at $111.41 on Friday. The stock’s fifty day simple moving average is $107.37 and its 200-day simple moving average is $105.91. The firm has a market capitalization of $20.71 billion, a PE ratio of 51.82, a price-to-earnings-growth ratio of 1.74 and a beta of 0.55. RB Global, Inc. has a 12-month low of $93.58 and a 12-month high of $119.58. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.40.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.04. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The company had revenue of $888.01 million for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the firm earned $0.89 EPS. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, research analysts predict that RB Global, Inc. will post 4.16 earnings per share for the current year.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Wednesday, May 27th were paid a $0.31 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.1%. RB Global’s dividend payout ratio is 57.67%.

Analyst Ratings Changes

RBA has been the subject of a number of research analyst reports. BMO Capital Markets reiterated an “outperform” rating and issued a $135.00 target price (up from $130.00) on shares of RB Global in a research note on Tuesday, May 5th. Zacks Research upgraded RB Global from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 3rd. Royal Bank Of Canada raised their price target on RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Stephens reiterated an “equal weight” rating and issued a $96.00 price objective on shares of RB Global in a research report on Tuesday, May 5th. Finally, Raymond James Financial raised RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price objective on the stock in a research note on Tuesday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $126.12.

Insider Activity at RB Global

In other news, Director Deborah Stein purchased 425 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average cost of $103.15 per share, for a total transaction of $43,838.75. Following the transaction, the director directly owned 1,825 shares of the company’s stock, valued at approximately $188,248.75. The trade was a 30.36% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.57% of the stock is currently owned by company insiders.

RB Global Company Profile

RB Global, Inc, an omnichannel marketplace, provides insights, services, and transaction solutions for buyers and sellers of commercial assets and vehicles worldwide. Its marketplace brands include Ritchie Bros., an auctioneer of commercial assets and vehicles offering online bidding; IAA, a digital marketplace connecting vehicle buyers and sellers; Rouse Services, which provides asset management, data-driven intelligence, and performance benchmarking system; SmartEquip, a technology platform that supports customers' management of the equipment lifecycle; and Veritread, an online marketplace for heavy haul transport solution.